Futures Rise Despite Small Payrolls Gain

U.S. stock index futures rose after the government reported a much smaller-than-expected gain in jobs in January.

Only 36,000 jobs were added to nonfarm payrollsin January, up from a 103,000 gain in December, the Labor Department reported. The unemployment rate, however, fell to 9 percent from 9.4 percent.

The number of jobs added was far less than the 145,000 analysts surveyed by Reuters had expected. Severe weather throughout the country may have caused a 32,000 drop in construction jobs, the government said.

Clorox fell after reporting a 3 percent drop in sales, in line with what the consumer products company had expected.

Pulte Group gained despite reporting widening losses due to charges and and a drop in closings and new orders, as investors focused on the company's views that the housing market seems to be stabilizing.Shares rose in Europe as banks rallied after signs that corporate lending is starting to pick up.

And Fortune Brands gained after beating profit expectations, and saying its plans to separate into three companies remains on track.

Most Asian markets are closed due to Lunar New Year, but Japan closed up 1 percent.